Posts tagged as:

MWN

Direxion, one of the leading issuers of leveraged ETFs, announced reverse splits for six of its 3x bear funds. Five of the leveraged products will undergo 1-for-5 reverse splits for shareholders of record after the close of the markets on Wednesday, Feb. 23, 2011:

  • Daily Financial Bear 3x Shares (FAZ)
  • Daily Large Cap Bear 3x Shares (BGZ)
  • Daily Mid Cap Bear 3x Shares (MWN)
  • Daily Developed Markets Bear 3x Shares (DPK)
  • Daily Semiconductor Bear 3x Shares (SOXS)

Additionally, the Daily Small Cap Bear 3x Shares (TZA) will undergo a reverse 1-for-3 split. Each of the six ETFs will be assigned a new CUSIP following the reverse splits.

Disclosure: No positions at time of writing.

{ Comments on this entry are closed }

This Week In ETFs: February 19th Edition

by Eric Dutram on February 19, 2010

Markets trended higher in the holiday shortened week, as the S&P 500 flirted with and then crossed the 1,100 mark. The dollar strengthened throughout the week as debt clouds continue to hang over the euro zone and after the Fed raised the discount rate to 75 basis points. Below, we offer our picks for the week’s most important and interesting ETF stories from around the Web: [click to continue…]

{ Comments on this entry are closed }

Direxion ETFs To Undergo Reverse Split

by Michael Johnston on July 7, 2009

Direxion, the ETF firm that pioneered 3x leveraged ETFs, announced today that it will execute reverse splits on two of its funds, the Daily Financial Bull 3x Shares (FAS) and Daily Financial Bear 3x Shares (FAZ). FAS will undergo a 1-for-5 reverse split, meaning that the number of FAS shares outstanding will decline by approximately [...]

{ Comments on this entry are closed }